MasterCard and VISA payments to whom? The bank is frozen and is pretty much gone. Who will he be paying for the statements? It would need to be the liquidator at best.
lol.
That is very specific information they have on you. This is NOT a generic probe to see if you will spill the beans. They have it all mate when they know you had large amounts and a card etc and they know some of the source was not from UK. That is NO "we know you had an account between x and x" probing type email. That is we have all the data please just confirm our findings by explaining in your own words...damn. They cannot really accuse you outright without you providing your side of events.
They do mate.
No chance with the wording of that letter. They have a case file on you and are not phishing here mate. That's a personalised request and not generic phishing letter to all EPB customers.
Yes plus jail sentence as this is multi year evasion with offshore income. As they say for "large sums" - don't intend to scare you but you are looking at jail time.
Unlikely as the whole EPB case is high profile so your name will be put out there as a deterrent to others. This case is being worked on by J5 I believe so US will be involved also and US will be looking at their end. You will be made an example off I fear. You don't file 7 years of deliberate false tax returns (2015-2022) and think you don't go to jail in UK especially when they use the words "large sums". Your lawyer will know exactly what I am talking about.
That's Federal prison in US and not state prison as tax evasion would be a federal offense I believe. So far worse. Fines are crazy even for small amounts if he did not file an FBAR.
What Are the Penalties for Failing to File a Foreign Bank Account Report 90-22.1 (FBAR)? | Los Angeles Tax Litigation Lawyer Dennis Brager
Call (800) 380-8295 - Dennis Brager is dedicated to serving our clients with a range of legal services including Tax Litigation and FBAR cases. What Are the Penalties for Failing to File a Foreign Bank Account Report 90-22.1 (FBAR)? - Los Angeles Tax Litigation Lawyer
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What Are the Penalties for Failing to File a Foreign Bank Account Report 90-22.1 (FBAR)?
Penalties for failure to file a Foreign Bank Account Report (FBAR) can be either criminal (as in you can go to jail), or civil, or some cases, both. The criminal penalties include:
- Willful Failure to File an FBAR. Up to $250,000 or 5 years in jail or both.
- Willful Failure to File an FBAR while violating another "law of the United States" or as part of a pattern of any illegal activity involving more than $1000k in a 12 month period. Up to $500k or 10 years in jail or both.
- The loss of the right to vote;
- Revocation of professional licenses such as those for CPAs, attorneys, and doctors;
- The loss of the right to bear arms;
- Loss of employment; and
- Deportation of a green card holder AFTER jail time has been served.
If the holder of an offshore financial account can successfully convince the IRS that the failure to file the FBAR was not willful, then the penalties would be limited to $10,000 per violation. However, the IRS takes the position that a separate violation occurs for each bank account that is not listed on the FBAR. So for example, if an offshore bank account holder has 6 separate accounts, the FBAR penalties can be imposed for multiple years so that the total of these penalties can easily grow into the hundreds of thousands of dollars.
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. I have been in far worse situations. Speak to your lawyer above all else. Remember HMRC does offer payment plans I believe and mitigating circumstances can play a factor as is your case.
